Markup and Markdown

Front

What is a markup?

Back

A markup is the amount added to the cost price of a product to determine its selling price, usually expressed as a percentage of the cost price.

Front

What is a markdown?

Back

A markdown is a reduction in the original selling price of a product, often expressed as a percentage.

Front

How do you calculate the sale price after a discount?

Back

Sale Price = Original Price - (Original Price * Discount Percentage)

Front

If a product costs $50 and has a 20% markup, what is the selling price?

Back

Selling Price = $50 + ($50 * 20%) = $60.

Front

What is the formula for calculating the discount amount?

Back

Discount Amount = Original Price * Discount Percentage.

Front

If a jacket is originally priced at $85 and is on sale for 40% off, how much do you save?

Back

Savings = $85 * 40% = $34.

Front

What is the retail price if the cost of a notebook is $1.50 and the markup is 20%?

Back

Retail Price = $1.50 + ($1.50 * 20%) = $1.80.

Front

What does it mean to sell at a loss?

Back

Selling at a loss means selling a product for less than its cost price.

Front

If a video is priced at $25.95 and is on sale for 25% off, what is the sale price?

Back

Sale Price = $25.95 - ($25.95 * 25%) = $19.46.

Front

What is the difference between markup and markdown?

Back

Markup increases the price of a product, while markdown decreases the price.